International

China stimulus package under scrutiny

BEIJING: A joint official statement promised on Monday to ensure close supervision of the huge stimulus package to prevent waste and fraud.

Two dozen inspection teams will soon be sent to locations around China to follow projects funded by the package.

The inspectors will “check whether the money is used to build office buildings or guesthouses of party and government departments,” said the central government notice.

Projects built for “image or achievement” that “waste both money and manpower must be strictly prevented,” said the notice, jointly issued by the Communist Party of China Central Commission for Discipline Inspection, the National Development and Reform Commission (NDRC), the Ministry of Supervision, the Ministry of Finance and the National Audit Office. It also asked inspectors to pay attention to project quality.

Investment in industries with excess capacity should also be prevented. The notice put central and local government departments under scrutiny and asked inspectors to determine if funds were being held up or falsely claimed. The funds must be used “safely, transparently and efficiently.” Inspectors would check all aspects of fund use, including project planning, assessment and approval, procurement and construction. — Xinhua

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